Japan’s Nikkei recorded its worst week in nearly three months on Friday, while ending the day flat, and was pressured by fears of aggressive rate hikes globally, while a weak yen provided little support.<\/p>\n\n\n\n
The Nikkei closed down 0.04 percent to 27,650.84 points, and recorded a weekly decline of 3.4 percent, its worst loss since mid-June.<\/p>\n\n\n\n
The broader Topix index fell 0.27 percent to 1930.17, after touching a six-week low of 1,926.05 earlier in the session. The index has lost 2.5 percent this week.<\/p>\n\n\n\n
Market expectations of a US interest rate hike, hurting appetite for stocks, have been growing since Federal Reserve Chairman Jerome Powell’s speech last week, which reiterated his focus on curbing inflation above all.<\/p>\n\n\n\n
Technology companies have been particularly hard hit by the hawkish stance on interest rate hikes, making the sector the biggest drag in the broader market on Friday.<\/p>\n\n\n\n
Shares of Nixon Video Games, which touched a six-month low after reporting quarterly earnings on Thursday, fell 3.06 percent, the biggest pressure on the Nikkei index.<\/p>\n\n\n\n
Trend Micro shares fell 1.68% and lost more than 7% during the week, as the cyber security company’s shares fell from the two-decade high it hit last month.<\/p>\n\n\n\n
The focus now turns to US employment data due later on Friday, which if strong could boost expectations of a 75 basis point interest rate hike by the central bank later in September, and also to the currency market, where the yen hit a 24-year low.<\/p>\n","protected":false},"excerpt":{"rendered":"
Japan’s Nikkei recorded its worst week in nearly three months on Friday, while ending the day flat, and was pressured by fears of aggressive rate hikes globally, while a weak yen provided little support. The Nikkei closed down 0.04 percent to 27,650.84 points, and recorded a weekly decline of 3.4 percent, its worst loss since …<\/p>\n","protected":false},"author":9,"featured_media":71426,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[7211,6877,6928,6882],"class_list":["post-71425","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-currencies","tag-dollar","tag-euro","tag-forex"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/71425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=71425"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/71425\/revisions"}],"predecessor-version":[{"id":71427,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/71425\/revisions\/71427"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/71426"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=71425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=71425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=71425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}